Nasdaq hit our TP = 15,000 as since our last idea (chart at the bottom) we took full advantage of the whole LH leg of the Channel Down. With the 1D technical outlook now just slightly bullish (RSI = 56.567, MACD = -24.590, ADX = 32.703) despite the seven day rally, we are looking towards a short term pullback that will test the buying strength and investor commitment towards a long term rise.
Consequently we are going short here, on the RSI rejection on R1, targeting the 0.382 Fibonacci retracement level (TP = 14,750).
See how well our prior idea has worked:
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